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Pfizer - Stock Update

The pharmaceuticals and animal healthcare business is growing stably and is ex-pected to grow at around 10% during the CY08. In 9mCY08, both the businesseshave grown 11.3% and 18.1% to Rs.4.35bn and Rs.623mn, respectively. The com-pany has launched two new products (CHAMPIX and CYKLOKAPRON) from theparents' portfolio during the Q1CY08 and might launch two more products inCY08. The management expects the animal health business to grow at around15% in CY08. However, the income from clinical research and development servicewill remain under pressure due to severe competition at the international levelalong with the entry of new players from other Asian countries like Korea, Malay-sia, Philippines and Indonesia.The company has transferred four consumer healthcare brands to J&J for Rs2.15bnin January 2008. The transfer includes the trademarks relating to Benadryl,Caladryl, Benylin and Listerine and certain assets related thereto. All other brandsand the consumer healthcare team will continue to be an integral part of the com-pany. Going forward, the consumer healthcare portfolio will include key brandssuch as Gelusil, Nebasulf, Selsun, Ferradol, Neko and Waterbury's compound. Thecompany is confident that there is tremendous potential in its brands, and businessstrategies will be put in place to maximize opportunities and drive growth in theconsumer health business